UPDATE 1-Former mining tycoon Tinkler sees global players shedding coal assets

jueves 27 de noviembre de 2014 23:24 GYT

* Tinkler says coal markets depressed for few more years

* Sees major restructuring in iron ore sector

* Says Glencore could keep pursuing Rio Tinto (Adds comments on Glencore pursuit of Rio Tinto, changes date)

By Melanie Burton

SINGAPORE, Nov 28 (Reuters) - Nathan Tinkler, the former mining magnate who lost his fortune because of a slump in coal prices, expects global mining companies such as BHP Billiton and Rio Tinto to put their coal assets up for sale.

The former electrician who became Australia's youngest billionaire by betting on unloved coal assets in pre-boom 2006 only to see his empire crumble in the 2012 downturn, predicted that coal markets would remain depressed for a few more years.

"I am a big believer that a lot of the majors will start to divest assets (in coal)," Tinkler said during a speech in a rare public appearance at the Singapore Mining Club Christmas dinner.

Tinkler, who worked as an apprentice at BHP Billiton early in his career, also said that the iron ore sector faces major restructuring.

"It's very possible over the next two to three years that we'll see a lot of rationalisation in the iron ore industry ... it's going to be a tough slog for the iron ore sector."   Continuación...